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Old 05-14-2005, 09:04 PM   #1
Tom, the Uber Disney Fan
 
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Has anyone financed a new AS lately?

We are planing our new purchase soon and wandered if anyone had purchased a new Airstream lately and fiananced through Thor Industries. What rates are they offering and what length of terms are available? Any other financing options offered through your dealer and were they competative?
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Old 05-14-2005, 09:32 PM   #2
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Thor Credit is administered by E*Trade ...

You can call Thor Credit at 800-700-8467 and ask about any "Special Factory Programs."
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Old 05-15-2005, 01:43 AM   #3
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2005 Safari Financing

Hi there

I just purchased my first 25 ft Airstream Safari LS. After reading the RV Buyers Survival Guide, I opted to get my own financing and Insurance.

Went to the RV show in Pomona CA this month, fell in love with the Airstream. They were offering 7.99% interest and a $750 yearly insurance rate. After researching all over the internet. I found Essex Credit Corp. was offering 100% financing at 6.99. www.essexcredit.com


I also got my insurance with AON recreation Insurance. Cost for full replacement value: $279 for the year.
https://www.aonrecreation.com/quote/

With rates going up, I looked and tried those 5.75% guys. They wanted from 10 to 20% down to finance. For tax reasons, I wanted 100% financing.

Hope this helped.

Best regards,

Rick
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Old 05-15-2005, 06:14 PM   #4
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greetings all

if your credit is good and you have a relationship with a local bank, you can usually do better than the e trade or any of the in house plans. i purchased a 34 limited last month and financed with my local bank for 10 years at 5.75%..... after checking for the best on line rate, i went into the bank and they matched it without any problems.

everyones finances are unique but putting less than 15-20 % down on a new unit creates the risk of getting "upside down" within 2-3 years. doesn't matter if you keep em long term but frequent traders should watch this.

cheers
2air
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Old 05-17-2005, 12:28 PM   #5
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Thanks for the tips. I'll try these suggested financing options. I'll also try this insurance company. My insurer quoted me the $750 range also.
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Old 05-17-2005, 12:52 PM   #6
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Post Tax write-off as second home!

I'm not sure about all the details of this, but my CPA writes off the interest on the Airstream loan as a second home. He says the criteria is that it's fully self-contained...that's about it. I had called my CPA on our way to purchase our AS to ask if this "rumor" was true. What a bonus!

Cherie
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Old 05-17-2005, 02:51 PM   #7
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Quote:
Originally Posted by KY Girl
I'm not sure about all the details of this, but my CPA writes off the interest on the Airstream loan as a second home. He says the criteria is that it's fully self-contained...that's about it. I had called my CPA on our way to purchase our AS to ask if this "rumor" was true. What a bonus!

Cherie
I was aware of this tax benefit. As I understand it, as long as there is a toilet and a means for preparing food, you can write off the loan interest under the income limits, as they might apply. This allows sailboats, Moho's, TT's, second homes, etc. to be tax write-offs.
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Old 05-17-2005, 09:08 PM   #8
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To take tax credit for the loan intrest you must live in the trailer for at least two weeks a year, we have always taken the tax credit , it is considered a 2nd home.
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Old 05-17-2005, 09:43 PM   #9
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Here's an old thread which links to the IRS site with requirements...

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Old 12-20-2005, 11:45 AM   #10
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Yes to the tax credits; yes to the 2nd mortgage ineterest write off, yes to the two weeks per year criteria, yes to the sleeping, cooking, toiletry criteria...been using those credits for over 20 years. One day they will do away with that credit, but for now it's applicable to anything that you can sleep, cook, and relieve yourself in.
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Old 12-20-2005, 12:45 PM   #11
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Hello -

We bought a new 2005 28' International last year and got a 17 year loan at 6% at an RV show in Columbus - it was a show special. Our loal bank couldn't do better than 7.25%. Check the local RV shows (It's that time of year again) - maybe the banks have deals this year too!

Good Luck!

steve
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Old 01-05-2006, 10:37 AM   #12
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'06 RV interest rates reduced

My credit union emailed me last week with a quote of 5.75 % for 15 yrs on
a new airstream loan. I had asked them if they could beat the 6.25% offered by Essex.
They got us pre approved so we're waiting 'till the RV show in Feb when the new floor plans arrive at our local dealership to make our decision on which
to go with.
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Old 01-05-2006, 11:02 AM   #13
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Quote:
Originally Posted by Brow324
My credit union emailed me last week with a quote of 5.75 % for 15 yrs on
a new airstream loan. I had asked them if they could beat the 6.25% offered by Essex.
They got us pre approved so we're waiting 'till the RV show in Feb when the new floor plans arrive at our local dealership to make our decision on which
to go with.
I'd go for that if I were you. That's an excellent rate since you are below in some cases what home loans are going for right now. I think my loan with Thor was in the 6.5 or so range. How long is that rate guaranteed for? Will it stand till Feb?

Jack
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Old 01-05-2006, 11:04 AM   #14
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There was a great article in the Good Sam magazine this month about financing RVs and being upside down on the payments and value of the RV. I would recommend it to anyone thinking about financing an RV.
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